Tesco (LON:TSCO) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 363.01 ($4.71) and traded as high as GBX 375 ($4.86). Tesco shares last traded at GBX 373.95 ($4.85), with a volume of 19,293,813 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSCO. JPMorgan Chase & Co. decreased their target price on Tesco from GBX 410 ($5.32) to GBX 400 ($5.19) and set an “overweight” rating for the company in a research report on Monday, January 13th. Shore Capital reiterated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.

Tesco Stock Performance

The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The firm has a 50-day moving average of GBX 371.06 and a 200 day moving average of GBX 363.01. The stock has a market capitalization of £24.95 billion, a P/E ratio of 19.57, a PEG ratio of 1.43 and a beta of 0.51.

Insider Transactions at Tesco

In related news, insider Gerard Murphy bought 40,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of GBX 371 ($4.81) per share, with a total value of £148,400 ($192,452.34). In the last three months, insiders acquired 40,073 shares of company stock valued at $14,867,657. Company insiders own 2.51% of the company’s stock.

Tesco Company Profile

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children’s groups, food banks and other good causes.

In challenging times, our purpose has guided every part of the Group.